MIRA
INFORM REPORT
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Report Date : |
19.03.2011 |
IDENTIFICATION DETAILS
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Name : |
CONCERN |
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Registered
Office : |
3rd Floor, Ador House 6, K – Dubash Marg, |
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Country : |
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Financials (as
on) : |
Not Parted |
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Date of
Incorporation : |
17.05.1989 |
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Legal Form : |
Trustees |
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Line of Business
: |
It is an NGO Non Profitable Organization Which Collects Funds for Different
Activities Like Medical Help, Education Relief Camps, Awareness of
Environment, Community Development |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (46) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
-- |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is well established NGO collect funds for Medical Help,
Education Relief Camps, Awareness of Environment, Community Development Trade relations are reported as fair. Payments are reported to be
usually correct. Initially subject can be considered at usual trade terms and
conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Ms. Varsha |
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Designation : |
Head Account |
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Contact No.: |
91-22-22833304 |
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Date : |
15.03.2011 |
LOCATIONS
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Registered Office : |
3rd Floor, Ador House 6, K– Dubash Marg, |
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Tel. No.: |
91-22-228554871 / 22029708 / 22029707 / 22840142 / 22852270 / 22833304 |
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Fax No.: |
91-22-22043625 |
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E-Mail : |
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Website : |
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Area : |
-- |
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Location : |
Rented |
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Branch Office : |
A-52, Amar Colony, Lajpat Nagar IV, New Delhi – 110024, Delhi, India |
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Tel. No.: |
91-11-26224482 / 3 |
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Fax No.: |
91-11-41622512 |
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E-Mail : |
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Location : |
Rented |
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Branch Office : |
2nd Floor, NO.97 and 98, Closes Road, Fraser Town, |
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Tel. No.: |
91-80-25576741 / 41758088 |
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Fax No.: |
91-80-25549422 |
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E-Mail : |
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Location : |
Rented |
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Branch Office : |
No.1B, 1st FloorVarafarajapuram, Poes Roas, Teynampet,
Chennai – 600018, |
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Tel. No.: |
91-44-24359790 / 24358429 / 24359788 |
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E-Mail : |
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Location : |
Rented |
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Branch Office : |
Flat No.403, |
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Tel. No.: |
91-40-27732950 |
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Fax No.: |
91-40-27731460 |
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E-Mail : |
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Location : |
Rented |
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Branch Office : |
2/3C, |
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Tel. No.: |
91-33-40030679 |
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E-Mail : |
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Location : |
Rented |
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Branch Office : |
226, Clover Centre, B wing, 2nd Floor, |
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Tel. No.: |
91-20-40068834 / 32343942 |
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E-Mail : |
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Location : |
Rented |
MANAGEMENT
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Name : |
Mr. Ardeshir B K Dubash |
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Designation : |
Chairman and Managing Trustee |
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Name : |
Mr. Naheed H. Sorabjee |
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Designation : |
Member |
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Name : |
Mr. Laleh Ogle |
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Designation : |
Member |
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Name : |
Mr. Dinshaw Petit |
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Designation : |
Member |
KEY EXECUTIVES
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Name : |
Ms. Varsha |
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Designation : |
Head Account |
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Name : |
Ms. Kavita Shah |
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Designation : |
Chief Executive Officer |
BUSINESS DETAILS
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Line of Business : |
It is an NGO Non Profitable Organization Which Collects Funds for Different
Activities Like Medical Help, Education Relief Camps, Awareness of
Environment, Community Development |
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GENERAL INFORMATION
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Bankers : |
HDFC Bank, Fort, Mumbai, Axis Bank, Fort, Mumbai, Standard Chartered Bank, Fort, Mumbai, |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Y. K. Bhagwagar and Company Chartered Accountant |
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Address : |
Worli, Mumbai, |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Parted |
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Borrowed : |
Not Parted |
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Total : |
-- |
FINANCIAL DATA
[all figures are
in Rupees Millions]
Not Parted
LOCAL AGENCY FURTHER INFORMATION
AS PER WEBSITE
PROFILE
They believe that the disadvantaged need opportunities not charity and
with that as their aim they partner with grass root level programmes. The most
valuable asset of such a programme is its commitment to its cause; what it
often lacks is funds. At Concern India Foundation, they bridge the gap between
such NGOs which lack the time and expertise to raise financial and other
assistance for themselves, and corporates or individuals who wish to support
development work in the country, thus enabling organizations to concentrate on
their core activities.
With almost 20 years of experience, they have a strong sense of identifying,
monitoring and evaluating the work of grass root level organizations and
ensuring judicious disbursal of the funds and resources.
Registration Details
Registered under The Public Trusts Act of 1950 no. E – 12384 (BOM)
Registered under Section 6 (i) of the Foreign Contributions
(Regulations) Act 1979
Registered under Section 80 G of the Income Tax Act 1961.
OVERVIEW
They at Concern India Foundation have many
years of experience in identifying, monitoring and evaluating the work of
grass-root level organisations that require financial help and professional
expertise to best reach out to those in need. With an all embracing approach,
they ensure judicious utilisation of disbursed funds and resources.
Their all-embracing approach ensures that through the programmes they support,
they reach out to diverse target groups of children, special children, women,
men and elderly from the underprivileged sections of the society.
Concern India Foundation focuses on three main core issues viz:
- Education
- Health
- Community Development
NEW RELEASE
Young Mumbai Run
DECEMBER 5, 2010
Mumbai
On December 5, 2010, schoolchildren in Mumbai will be taking a unique
initiative.
Coming from various economic strata of the society the children will unite to
run for a Cause that is close to their heart – Education. After all, the future
generation is well aware of the fact that education and equal opportunities are
important aspects for the development of the country.
While the underprivileged children of today have an immense potential for
excellence and all round development, the ones born into privileged families
want to do their bit too. Keeping this spirit in mind, over 1500 pairs of feet
will run on a beautiful platform called the ‘Young Mumbai Run’.
Initiated by Concern India Foundation, a non-profit charitable trust, the
‘Young Mumbai Run’ is designed specifically for children in the age group of 12
to 19 years. To be held at
The Athletic Federation of India (AFI) has consented to become our technical
partner. They will flag the event, monitor the run and conclude the event. Rin
is the Main Sponsor and Union Bank of
The event also provides an opportunity to sensitize children towards the
educational needs of the underprivileged children. This is being done by
holding sessions in various schools on the challenges being faced by education
for the underprivileged such as lack of access to quality education,
non-availability of non-formal education for working children, poverty and lack
of awareness.
Children from various schools will be encouraged to raise “pledges” from their friends
and families towards the cause. All funds raised through this event will be
directed towards our support work in the field of Education.
To add zing to the event, there are exciting prizes and goody bags for the
children.
Event: Young Mumbai Run
Date: December 5, 2010
Time: 7 am
Holding Area: Cricket Club of
Run Area: Churchgate to Nariman Point
For more details please contact Ameeta Munshi, Concern India Foundation, tel:
22029707, 22852270, email: communication@concernindia.org
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.09 |
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|
1 |
Rs.72.82 |
|
Euro |
1 |
Rs.63.43 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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46 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.